2018 Annual Report to Members
Committed to your needs — now and in the future
The word “commitment” is defined as, “being dedicated to a cause.” This describes the driving force of the Cuivre River Board of Directors, management staff and employees towards you, the member, as we chart the course for our future.
Committed to Keeping Your Rates Low
Earlier this year we received a nearly 2.5 percent rate increase from our power supplier. In addition to this increase, our power demand charges increased by 10 percent. Despite these cost of power increases, your rates remained steady. We have had only one residential rate increase in the past nine years, even as electricity prices nationwide have increased by 24 percent over the past decade. We will never waver in striving to increase efficiencies to keep your costs down.
Committed to Returning Capital
We were pleased to recently announce the largest capital credit distribution in the history of Cuivre River, just under $7 million. Through sound fiscal management, we have been able to maintain the capital requirements needed to meet the continued growth of our distribution system and return capital to you, all while keeping your cooperative on solid financial footing.
Committed to Making a Difference
In September our linemen traveled to Florida to assist with power restoration for those impacted by Hurricane Irma. Damage to the region was described as “unprecedented” as more than 1.2 million electric cooperative members were out of power due to the storm.
Thanks to our members’ generosity, the Operation Round Up program continues to help individuals and community organizations in our local area. Medical and health needs, scholarships, emergency service providers and local youth programs are just a few of the areas where this program makes an impact.
We’ve recently launched our Cuivre Cares initiative. This program is comprised of our employees who volunteer their time and talents to assist those in need. Cuivre Cares will be participating in various service projects around our community throughout the year. It’s another way we can show our support and thanks.
Committed to Service Excellence
Cuivre River once again received an outstanding score of 86 from our annual American Customer Satisfaction Index (ACSI) survey. This score is eight points higher than the average Touchstone Energy Cooperative and more than 12 points higher than regional IOU’s and municipal utilities. From this survey, we learned that reliability continues to be important to our members. We are proud 91 percent of respondents reported that their power is very reliable.
We continue to utilize technology to improve service to you. Our Advanced Metering Infrastructure (AMI) deployment is now complete. This system will allow for even faster outage response. Our MyCuivre App downloads continue to grow. With this app, members can pay their bill, report an outage, set alerts, view usage and more.
Our generation portfolio continues to be diverse with 20 percent of our generation coming from renewable resources. With an additional wind farm to be constructed next year, we will have nearly one gigawatt of wind generation capacity.
Committed to the Future
The utility industry is changing rapidly. To keep up with these changes, we must be willing to embrace them and adjust our strategy accordingly. In the next few months, the Board of Directors and senior management team will begin a strategic planning session to look to the future and prepare for the challenges and opportunities ahead. It’s an exciting time as we look for ways we can continue to provide you with the service and value you’ve come to expect, even in a changing environment.
At Cuivre River, we are committed to meeting the needs of our members, both now and in the future. We will continue to work hard to provide you value and dependability. It is our privilege and honor to serve you.
Doug Tracy, General Manager/CEO
Diane Saale, Board President